Financial Services Commission Dismisses Sangbok Lee from Emergency Non-Standing Commissioner Position at the Securities and Futures Commission

[Asia Economy Reporter Park Hyungsoo] The Financial Services Commission announced that Lee Sangbok, a non-standing member of the Securities and Futures Commission under its jurisdiction and a professor at Sogang University Law School, was dismissed as of the 26th. Earlier this month, Professor Lee had expressed his intention to resign. His term was set to end in February next year.

Professor Lee was one of the candidates rumored to be considered for the position of Financial Supervisory Service Governor. He has served as a non-standing member of the Securities and Futures Commission since December 2015, completing his first term and being reappointed in February 2019.

The Financial Services Commission explained, "This is a general procedure for term completion following the expression of resignation," and added that they "requested dismissal from the Blue House."

There are rumors within some political circles that Professor Lee may join the Open Financial Commission of Lee Jae-myung's Democratic Party presidential campaign.